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Nabati Foods Global Inc
Symbol MEAL
Shares Issued 45,416,897
Close 2021-12-07 C$ 0.50
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Nabati Foods appoints Aucoin as interim CEO

2021-12-07 13:34 ET - News Release

Mr. Ahmad Yehya reports

NABATI FOODS INITIATES LEADERSHIP TRANSITION AMIDST COMPANY GROWTH, APPOINTS CPG VETERAN AS INTERIM CEO

Nabati Foods Global Inc. has initiated a leadership transition following a year of tremendous growth. Michael Aucoin, an experienced consumer packaged goods executive who has been working alongside Nabati Foods via Eat Beyond Global Holdings, an investor in Nabati Foods, will step in as interim chief executive officer, effective immediately.

Nabati Foods founder Ahmad Yehya will step down from the CEO role and continue to be involved in the day-to-day operations of Nabati Foods in the role of chief operating officer.

Mr. Aucoin also currently serves as CEO of Eat Beyond, which has been a key partner for the company. He has more than 25 years of experience in consumer packaged goods (CPG) general management roles, as well as sales and market/corporate development roles. Prior to joining Eat Beyond in July, Mr. Aucoin held leadership roles at Agropur Cooperative (president), Advantage Solutions (president -- Canada) and Hershey Canada (vice-president, sales), among others.

"I look forward to building on the tremendous success that Mr. Yehya and the Nabati Foods team have achieved in such a remarkably short time," Mr. Aucoin said. "Nabati Foods is committed to leading the evolution of food, creating great-tasting, plant-based meals made in ethically and environmentally responsible ways. Mr. Yehya and the founders built the company on a strong foundation of passion, values, hard work and a commitment to excellence, and I'm ready to build upon that momentum while leveraging my significant experience in the food and CPG sectors."

Nabati Foods products are sold globally across three continents. All of its products are kosher, vegan, egg free, dairy free, gluten free and non-GMO (genetically modified organism). The company has built multiple diverse revenue streams across grocery, food service, industrial and e-commerce channels.

"Building Nabati Foods has been an incredible journey thus far and I am extremely proud of the work that we have done to date," Mr. Yehya said. "We created Nabati Foods because we saw a gap in the market for plant-based, healthy options that would never feel like a trade-off. Our creations have now expanded into a fast-growing business with multiple product lines distributed globally. I look forward to the growth that Mr. Aucoin's expertise can help us to achieve as we move into this next phase."

About Nabati Foods Global Inc.

The company is the owner of Nabati Foods Inc., a family-founded food technology company offering whole, natural, plant-based, gluten-free and soy-free foods for health-conscious consumers. Nabati Foods was founded in 2014 and has four signature product lines, including dairy-free cheesecakes, cheese alternatives, plant-based meats and a plant-based liquid egg alternative. Nabati Foods products are distributed throughout Canada, the United States and internationally through e-commerce, grocery, food service, and industrial channels.

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